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Related Party Transactions | 12 Months Ended
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Dec. 30, 2017
Related Party Transactions [Abstract] |
Related Party Transactions | Asset acquisition On March 12, 2017, the Company acquired all of the outstanding equity interests of Healthspan from Robert Fried, Jeffrey Allen and Dr. Charles Brenner (the "Sellers"). Robert Fried is a member of the Board of Directors ("Board") of the Company, a position he has held since July 2015. Upon the closing of, and as consideration for, the acquisition, the Company issued an aggregate of 367,648 shares of the Company’s common stock to the Sellers. The fair value of these shares was approximately $1.0 million based on the closing price of $2.72 per share on March 12, 2017. Also on March 12, 2017, the Company appointed Robert Fried as President and Chief Strategy Officer, effective immediately. Mr. Fried continues to serve as a member of the Board, but resigned as a member of the Nominating and Corporate Governance Committee of the Board. Healthspan was formed in August 2015 to offer and sell finished bottle product TRU NIAGEN® directly to consumers through internet-based selling platforms. TRU NIAGEN® is currently the Company's leading product. Prior to the acquisition, the Company has supplied certain amount of NIAGEN® to Healthspan as a raw material inventory in exchange for a 4% equity interest in Healthspan. An additional 5% equity interest was received for granting certain exclusive rights to resell NIAGEN® prior to the total acquisition on March 12, 2017. This transaction was accounted for as an acquisition of assets. An intangible asset of approximately $1.35 million was recorded as a result of this acquisition, which is the difference of consideration transferred and the net amount of assets acquired and liabilities assumed.
(A) Consideration transferred |  |  |  |  | (B) Net amount of assets and liabilities |  |  |
|  | Fair value |  |  | Assets acquired |  | Fair value |
Common Stock |  | $ | 1,000,000 |  |  | Cash and cash equivalents |  | $ | 19,000 |
Transaction costs |  |  | 178,000 |  |  | Trade receivables |  |  | 11,000 |
Previously held equity interest |  |  | 20,000 |  |  | Inventory |  |  | 61,000 |
|  | $ | 1,198,000 |  |  | Liabilities assumed |  |  |  |
|  |  |  |  |  | Due to officer |  |  | (132,000 | )
|  |  |  |  |  | Accounts payable |  |  | (74,000 | )
|  |  |  |  |  | Credit card payable |  |  | (30,000 | )
|  |  |  |  |  | Other accrued expenses |  |  | (3,000 | )
Consumer product business model, |  |  |  |  |  |  |  |  |  |
intangible asset (A) -(B) |  | $ | 1,346,000 |  |  | Net assets |  | $ | (148,000 | )
The acquired intangible asset is considered to have a useful life of 10 years. The expense is amortized using the straight-line method over the useful life and the Company recognized an amortization expense of approximately $109,000 for the year ended December 30, 2017. In cancellation of a loan owed by Healthspan to Mr. Fried prior to the acquisition, the Company repaid $32,500 to Mr. Fried on March 13, 2017 and also repaid $100,000 on March 9, 2018. No interest was paid for the $100,000 repaid on March 9, 2018. Sale of consumer products, related party During July 2017, the Company entered into an exclusivity agreement (the "Customer G Agreement") with Customer G, whereby the Company agreed to exclusively sell its TRU NIAGEN® dietary supplement product to Customer G in certain territories in Asia. During the year ended December 30, 2017, the Company sold approximately $4.1 million of TRU NIAGEN® dietary supplement product pursuant to the Customer G Agreement. As of December 30, 2017, the trade receivable from Customer G was approximately $1.0 million. Li Ka Shing, who beneficially owns more than 10% of the Company's common stock, beneficially owns approximately 30% of Entity A and Entity A beneficially owns approximately 75% of Customer G. In accordance with the Company's Related-Person Transactions Policy, the Audit Committee of the Company's Board of Directors ratified the terms of sales agreement with Customer G.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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